• Title of article

    Stochastic gradient learning in the cobweb model

  • Author/Authors

    George W. Evans، نويسنده , , S. Honkapohja، نويسنده ,

  • Issue Information
    روزنامه با شماره پیاپی سال 1998
  • Pages
    5
  • From page
    333
  • To page
    337
  • Abstract
    We consider the effects of replacing least squares learning by stochastic gradient learning in the multivariate ‘cobwebʹ model. Are the stability conditions altered? For this model, we show global convergence of stochastic gradient learning to the unique rational expectations equilibrium provided the E-stability condition is satisfied. This is identical to the stability condition governing convergence under least squares learning.
  • Keywords
    stability , Bounded rationality , adaptive learning
  • Journal title
    Economics Letters
  • Serial Year
    1998
  • Journal title
    Economics Letters
  • Record number

    434684